Harbor Capital Advisors Inc. Reduces Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Harbor Capital Advisors Inc. decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 37.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,160 shares of the company's stock after selling 2,544 shares during the period. Harbor Capital Advisors Inc.'s holdings in GE Vernova were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MRP Capital Investments LLC purchased a new position in GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Navigoe LLC purchased a new position in shares of GE Vernova during the fourth quarter worth approximately $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $28,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $30,000.

GE Vernova Stock Performance

GEV stock traded down $9.74 during trading on Friday, reaching $477.93. The company had a trading volume of 2,432,081 shares, compared to its average volume of 3,281,410. The company has a market cap of $130.44 billion, a price-to-earnings ratio of 85.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.97. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $500.72. The firm has a 50-day simple moving average of $404.31 and a 200-day simple moving average of $364.45.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. GE Vernova's payout ratio is presently 14.41%.

Analysts Set New Price Targets

Several research analysts have commented on the company. CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. BMO Capital Markets raised their price target on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Barclays increased their target price on shares of GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Bank of America boosted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $395.98.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.